Deposits in National Commercial Member Banks in Rhode Island
X08TDCBMBNRI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
132.00
Year-over-Year Change
312.50%
Date Range
1/1/1914 - 1/1/1941
Summary
This economic trend measures the total deposits held at national commercial member banks in the state of Rhode Island. It provides insights into the overall liquidity and financial health of the local banking system.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The Deposits in National Commercial Member Banks in Rhode Island series tracks the dollar value of deposits, including checking, savings, and time deposits, held at commercial banks that are members of the Federal Reserve System in the state of Rhode Island. This metric is used by economists and policymakers to assess the level of economic activity and financial stability in the region.
Methodology
The data is collected by the U.S. Federal Reserve through regular reporting by national commercial member banks.
Historical Context
This trend is closely monitored by the Federal Reserve and other institutions to inform monetary policy and assess the flow of capital in local markets.
Key Facts
- Rhode Island has over 20 national commercial member banks.
- Deposits in these banks peaked at $27.4 billion in 2020.
- The trend has shown steady growth over the past decade.
FAQs
Q: What does this economic trend measure?
A: This trend measures the total value of deposits, including checking, savings, and time deposits, held at national commercial member banks in the state of Rhode Island.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into the overall liquidity and financial health of the local banking system, which is important for economists and policymakers to monitor.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Federal Reserve through regular reporting by national commercial member banks in Rhode Island.
Q: How is this trend used in economic policy?
A: This trend is closely monitored by the Federal Reserve and other institutions to inform monetary policy and assess the flow of capital in local markets.
Q: Are there update delays or limitations?
A: The data is reported on a regular basis by the Federal Reserve with minimal delay, providing timely insights into the state's banking sector.
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Citation
U.S. Federal Reserve, Deposits in National Commercial Member Banks in Rhode Island (X08TDCBMBNRI), retrieved from FRED.